By Adedapo Adesanya

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has urged Nigerians to avoid panic-buying of premium motor spirit (PMS), otherwise known as petrol, during this festive period, assuring them of enough supply to go around.

The Publicity Secretary of IPMAN, Mr Ukadike Chinedu, while speaking in Abuja, commended the Dangote Petroleum Refinery for reducing the price of its product to N899.50 per litre, noting that the gesture will help to reduce transport costs for Nigerians ahead of yuletide holidays.

”You see, that is the beauty of deregulation; prices are determined by market forces and with the Dangote and federal government refineries by the corner, this will bring competitive prices,” Mr Chinedu said.

He urged all IPMAN members to adjust their pump to the new price to attract more customers.

“We have started ordering the new price, and some of our members have already started adjusting their pumps lower for faster sales. If your price is higher, nobody will buy from you.

“You will even find out now that those queues that you normally see in NNPC filling stations have all reduced, because most marketers are almost selling the same thing with them,” he said.

In a related development, IPMAN, at the weekend announced that beginning from Monday (December 23) its members will begin to sell petrol at at N935 per litre.

Mr Maigandi Garima, IPMAN’s National President, who disclosed this, stated that the reduced price regime is a result of a new arrangement with the Dangote Refinery, which will make it possible for independent marketers to sell at N935 per litre.

Business Post reports that IPMAN stations were, however, still selling the product at above N1,00 per litre as of Tuesday afternoon.

The Nigerian National Petroleum Company (NNPC) Limited also reduced the prices of petrol – by N20 per litre at its fuel stations in the Federal Capital Territory, Abuja.

The product is now selling for N965 per litre at the state oil company’s stations across the city.

As for NNPC, it is not clear whether it will extend its new N965 per litre price to other parts of the country.

By Modupe Gbadeyanka

President Bola Tinubu has been urged to urgently look into the escalating hunger and suffering faced by millions of Nigerians due to the policies of his administration.

This call was made by the Conference of Nigeria Political Parties (CNPP) in a statement signed by its Deputy National Publicity Secretary, Mr James Ezema.

The group was reacting to the recent tragic incidents, including stampedes in Ibadan Oyo State, Anambra State and Abuja, resulting in loss of lives as citizens scrambled for palliatives.

“The current economic policies have had devastating short-term impacts, leading to increased hardship for the populace,” a part of the statement said.

“The federal and state governments must prioritize the survival of its citizens before they can even begin to enjoy the so-called long-term benefits of ongoing reforms in the country,” the organisation stated further.

The CNPP said it firmly believes that the “reality is that Nigerians must be kept alive first; only then can they contribute to the nation’s economic growth and development.”

To address this, the CNPP called on President Tinubu to immediately reconsider the pricing of petroleum products, particularly in light of the recent completion of the Port Harcourt Refinery’s rehabilitation and the ongoing loading of petroleum products at the refurbished refinery.

“We equally call on the President to urgently consider releasing crude oil at a highly subsidized rate to local refineries, including Dangote Refinery for domestic consumption,” it added.

“This will lead to a reduction in fuel prices, which is essential to alleviate the burden of transportation costs and the expenses associated with fueling power generators for manufacturing companies,” it added.

The CNPP warned that if these issues are not addressed, the increasing cost of production will continue to complicate Nigeria’s economic woes, rendering both interim and long-term gains from the ongoing economic reforms unattainable.

According to the group, the current trajectory is unsustainable and threatens to push more Nigerians into poverty and despair.

“No responsible leader can stand by and watch avoidable deaths occur among our citizens — individuals who should be contributing to the economic growth of our nation but are instead succumbing to the negative impacts of government policies and poor governance,” it stated.

It called for an immediate and comprehensive response from the Tinubu administration and state governments to address these pressing issues, urging the government “at all levels to implement policies that prioritize the welfare of the people,” ensuring that “no Nigerian is left behind in the quest for economic recovery and stability.”

The group implored Mr Tinubu to take decisive action to alleviate the suffering of Nigerians and to create an environment where citizens can thrive, saying, “The time for rhetoric is over; it is time for tangible action that reflects the needs and realities of the Nigerian people.”

By Adedapo Adesanya

National security agencies led by troops of the 6 Division have recorded significant milestones in the fight against oil theft, including the dismantling of 37 illegal refining sites, the seizure of six boats, the arrest of 10 suspected oil thieves, and the recovery of over 130,000 litres of stolen products.

These feats were achieved during separate operations conducted between December 16 and 22, 2024, according to a statement by the Acting Deputy Director of 6 Division, Army Public Relations Danjuma Danjuma.

Mr Danjuma said that around Obiafu in Ogba/Egbema/Ndoni (ONELGA) Local Government Area (LGA), Rivers State, troops destroyed a cluster of nine illegal refining sites, which housed 176 cooking drums, several pumping machines, and locally constructed dumps stocked with over 60,000 litres of stolen products.

These included approximately 50,000 litres of stolen crude oil, 5,000 litres of illegally refined Automotive Gas Oil (AGO), and 6,250 litres of illegally refined Dual Purpose Kerosene (DPK). Four suspected oil thieves were apprehended during the operation.

In Buguma, Asari-Toru LGA, three illegal refining sites, and a large boat were dismantled, with over 24,000 litres of stolen products recovered. Meanwhile, around Bille and Bakana in Degema LGA, three illegal refining sites and three boats (two wooden and one fibre) were intercepted.

Troops recovered over 16,000 litres of stolen crude oil and illegally refined DPK from these locations. In Ozorchi Forest, Abua/Odual LGA, four illegal refining sites containing over 10,000 litres of stolen products were also neutralized.

He said similar successes were recorded along the Imo River, where eight illegal refining sites, 50 drum pots, 65 metal container receivers, and over 5,000 litres of stolen products were dismantled during clearance operations.

The Army disclosed that in Bayelsa State, troops uncovered an illegal refining site at Kunsho Creek in Southern Ijaw LGA, where 2,000 litres of stolen crude oil were confiscated. Another operation at Kumbo 4 Flow Line in Ekeremor LGA foiled an attempt to sabotage a Shell Petroleum Development Company pipeline. The vandals fled the scene, abandoning 18-inch pipes and three gas cylinders.